Friday, April 23, 2010

I just finished performing a broker price opinion (opinion of value for a lender) on a house in Viera Florida. The subject house is obviously very nice and well maintained, recently constructed (2006), and large (almost 4,000 sq ft). This is a nice house in a gated community.

The problem is this is one of the largest properties in the neighborhood. If this home was located in one of the other gated communities in Viera it would probably be worth a lot more.

When buying a home, consider one of the smallest, or at most, mid-sized properties in the neighborhood.

Paying more for the biggest does not allow for appreciation as your home’s value will be pulled down by the smaller properties.

If you are considering buying a home in Viera or Rockledge, Florida, call me at 321-693-3850 or email me.

Sunday, April 18, 2010

I did a Broker Price Opinion (an opinion of value for a lender) on a house in a local gated community recently. Since it is not my listing I can not "advertise" it on here but I am a real estate agent so I can show you similar houses in the same Viera development!

This house was located in a gated community in one of the areas most popular communities - Viera. This house was located on one of the best lots in the neighborhood, on very nice lake overlooking a beautiful golf course! The house was like many others - nice.

But still it was the view that made the house so attractive.

It got me to thinking about how often the buyers I work with in Baytree, Suntree and Viera want to compare the houses they see without giving a great deal of consideration to the location.

Comparing apples to apples it is acceptable but then the location must be considered. Look beyond the structure and see where it is sitting when you consider making the purchase!

And sellers, remember your location can make a difference - either good or bad! The same house backing to the Interstate 95 corridor which splits Viera is not the same as the exact house a short walk from Manatee Elementary!

Monday, April 12, 2010

This post was originally posted on this site in March 2010. It has been revised as of today.Those with the capital, vision and guts can make money in this real estate market. Unfortunately many have two of the three components! In my case, it is the capital.

Today's real estate market in Brevard County, Florida offers excellent opportunities in the re-sale, foreclosure and short sale markets for single family homes and condominiums. Not all opportunities are in the form of distressed properties (REO and short sale).

Certainly the prices are lower than they have been in years and banks are selling distressed properties at a discount but where will the profit come from?

I am not a fortune teller but I do know real estate is cyclical. It will go back up. And when it does it will be those who had the capital, vision and guts who will likely reap the rewards.

If you are interested in short sales, foreclosures, and other good deals on real estate in Brevard County, Florida, let me know.

When you receive an offer for your Viera Florida house you look at the "offer price" first. Then you have a gut response - usually "What????" But stop...do not respond yet.

There may be seller contributions to closing costs, a request for furniture to be "thrown in," repair requests, and other "oddball" requests, within the offer as well. Still, remain calm.

Remember, an offer to purchase is just an offer.

Consider the offer in whole - not just the offer price. And then go back with a counter offer you can live with.

The key to a successful negotiation is the respectful exchange of proposals without the interference caused by emotions! I know this is really easier said than done when it concerns selling your Brevard County Florida house or condo. When emotion enters the negotiation process the ability to look for alternatives is diminished.

Saturday, April 10, 2010

This summary covers only the real estate activity in Viera, Suntree and Rockledge Florida during the March 2010 period.

First, there were 153 new single family house listings during March 2010. At the same time there were 74 single family houses that sold during March with an average of 114 days on the market. The average sales price in March 2010 was $189,569.

Note this average selling price is higher than the average for the Brevard County area as a whole ($141,000) for the same period. The average sales price is down from the March 2009 price of $222,191 for the same areas.

As for condos there were 35 new listings in March while only 10 sold. The average condo sales price s was $73,520 which was down from last year's $94,310. Many condos on the market in Viera were/are short sales. The average days on the market was 143 days (62 last year).

Zillow Home Value Index

Home values in Brevard County have fallen a bit overthe past five years. This chart shows that the declines have been consistent within these communities. As you move from central Brevard County from Rockledge toward the north county through Port St John and then Titusville, you see the values drop.

The Rockledge area is home to newer construction and parts of the planned unit development Viera are located within Rockledge's 32955 zip code.

Monday, April 5, 2010

Over the weekend I spent a couple of days in my home town of Palatka Florida. Located in north Florida along the St John’s River, Palatka is relatively small, rural, 25 miles from St. Augustine and 50 miles south of Jacksonville.

Palatka is country living. We spent time on the lake, canoeing, grilled out, and even had a bonfire. It was very peaceful, quiet and slow paced! Very nice for a brief respite!

I returned home last night to Brevard County Florida. Much more populated, located long the Atlantic Ocean.

Brevard County offers retirement living, golf course living, beach side condo living, residential communities…even some rural living in the north County areas near Titusville.

And this morning I was awakened by the sound of the space shuttle blasting off at 6:21.

Florida offers it all, regardless of the type of lifestyle you desire. For information on Brevard County Florida properties, drop me an email or give me a call at 321-693-3850.